{"schema_version":"secwatch.filing_event.v1","accession":"0001262039-22-000035","form_type":"8-K","ticker":"FTNT","cik":"0001262039","company_name":"Fortinet, Inc.","filed_at":"2022-11-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:49.942574+00:00","generated_at":"2026-06-22T12:22:33.885217+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Fortinet Q3 revenue up 33% to $1.15B; non-GAAP EPS $0.33 vs $0.20 YoY","bullets":["Revenue $1.15B (+33% YoY); product $468.7M (+39%), service $680.8M (+28%).","GAAP diluted EPS $0.29, non-GAAP $0.33; GAAP operating margin 23.1%, non-GAAP 28.3%.","Deferred revenue $4.19B (+35%), billings $1.41B (+33%). Cash flow $483M, free cash flow $395M.","Repurchased 10.2M shares for $500M in Q3 at avg $49.15/share.","Q4 guidance: rev $1.275-1.315B, non-GAAP EPS $0.38-0.40; FY22 rev $4.41-4.45B, non-GAAP EPS $1.13-1.15."],"urls":{"canonical":"https://secwatch.observer/filing/0001262039-22-000035","json":"https://secwatch.observer/filing/0001262039-22-000035.json","markdown":"https://secwatch.observer/filing/0001262039-22-000035.md","text":"https://secwatch.observer/filing/0001262039-22-000035.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1262039/000126203922000035/0001262039-22-000035-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1262039/000126203922000035/ftnt-20221102.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T12:22:33.885217+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"475ded592bedb7eed45c8f106bf73cbfb13a01c6","claim":"Fortinet, Inc. reported fiscal year 2022 results: revenue $4.410 billion to $4.450 billion, EPS $1.13 to $1.15.","evidence_excerpt":"For the fiscal year 2022, Fortinet currently expects: • Revenue in the range of $4.410 billion to $4.450 billion • Service revenue in the range of $2.645 billion to $2.655 billion • Billings in the range of $5.540 billion to $5.595 billion • Non-GAAP gross margin in the range of 75.0% to 76.0% • Non-GAAP operating margin in the range of 26.0% to 27.0% • Diluted non-GAAP net income per share attributable to Fortinet, Inc. in the range of $1.13 to $1.15, assuming a non-GAAP effective tax rate of 17%. This assumes a diluted share count of 800 million to 810 million.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262039/000126203922000035/0001262039-22-000035-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fiscal year 2022"},{"label":"Revenue","value":"$4.410 billion to $4.450 billion"},{"label":"EPS","value":"$1.13 to $1.15"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"5db316251b37046efae45a7501e3f81976096120","claim":"Fortinet, Inc. reported fourth quarter of 2022 results: revenue $1.275 billion to $1.315 billion, EPS $0.38 to $0.40.","evidence_excerpt":"Guidance For the fourth quarter of 2022, Fortinet currently expects: • Revenue in the range of $1.275 billion to $1.315 billion • Billings in the range of $1.665 billion to $1.720 billion • Non-GAAP gross margin in the range of 75.0% to 76.0% • Non-GAAP operating margin in the range of 30.0% to 31.0% • Diluted non-GAAP net income per share attributable to Fortinet, Inc. in the range of $0.38 to $0.40, assuming a non-GAAP effective tax rate of 17%. This assumes a diluted share count of 795 million to 805 million.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262039/000126203922000035/0001262039-22-000035-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fourth quarter of 2022"},{"label":"Revenue","value":"$1.275 billion to $1.315 billion"},{"label":"EPS","value":"$0.38 to $0.40"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"f89e75b6a9bbedfa9ff8dedb96bdc9ab0f9b565a","claim":"Fortinet, Inc. reported third quarter ended September 30, 2022 results: revenue $1.15 billion, net income $231.6 million, EPS $0.29.","evidence_excerpt":"Financial Highlights for the Third Quarter of 2022 • Revenue: Total revenue was $1.15 billion for the third quarter of 2022, an increase of 32.6% compared to $867.2 million for the same quarter of 2021. • Product Revenue: Product revenue was $468.7 million for the third quarter of 2022, an increase of 39.0% compared to $337.1 million for the same quarter of 2021. • Service Revenue: Service revenue was $680.8 million for the third quarter of 2022, an increase of 28.4% compared to $530.1 million for the same quarter of 2021. • Billings 1 : Total billings were $1.41 billion for the third quarter of 2022, an increase of 32.6% compared to $1.06 billion for the same quarter of 2021. • Deferred Revenue: Total deferred revenue was $4.19 billion as of September 30, 2022, an increase of 35.0% compared to $3.11 billion as of September 30, 2021. • GAAP Operating Income and Margin: GAAP operating income was $265.5 million for the third quarter of 2022, representing a GAAP operating margin of 23.1%.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262039/000126203922000035/0001262039-22-000035-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"third quarter ended September 30, 2022"},{"label":"Revenue","value":"$1.15 billion"},{"label":"Net income","value":"$231.6 million"},{"label":"EPS","value":"$0.29"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}